South Korea-based gaming company Nexon has joined Insight Venture Partners backing recently merged gaming company 6waves LoLapps. The company has raised $35m, according to a Securities and Exchange Commission (SEC) filing.
In July the gaming company was formed from the merger of 6waves and LoLapps, uniting a stable of games including Resort World (pictured) and Ravenwood Fair. Hong Kong-based 6waves raised $17.5m from venture capital firm Insight Venture Partners in 2009, while US-based Lolapps raised at least $3.5m in 2008, according to a SEC filing.
LoLapps is backed by Polaris Venture Partners and angel investor Ron Conway, according to news provider Private Equity Hub.
Seung Woo Choi, chief executive of Nexon, said: "By joining forces, we are combining 6waves Lolapps’ experience in publishing and developing social games with our extensive knowledge of free-to-play games and the microtransaction business model."